The sixteenth session of the General Assembly of the International Renewable Energy Agency (IRENA) commenced yesterday in Abu Dhabi, running until January 12, thus marking the first international energy meeting of 2026.
The event, themed “Empowering Humanity: Renewable Energy for Shared Prosperity”, witnesses participation from ministers, high-ranking officials, and representatives from 139 countries alongside the European Union. A total of 1,524 participants are gathered from member states and partners, including 45 ministerial representatives, as well as top executives, investors, international organizations, and youth, aimed at establishing a common work agenda and identifying international cooperation priorities for a sustainable energy future.
The current discussions are predominantly focused on regional energy transformations and critical enabling factors such as electricity networks, energy planning, digital innovation, artificial intelligence, and mobilizing financing. Topics also include sustainable aviation fuel and the role of renewable energy in enhancing agricultural food systems and green manufacturing.
In his opening remarks, Francesco La Camera, the Director-General of IRENA, emphasized that renewable energy has become the most competitive option for electricity generation globally, surpassing fossil fuels in cost, flexibility, and long-term stability, asserting that the energy transition is now irreversible.
La Camera welcomed the attendees, congratulating Joel Adrian Santos Echavarría, the Minister of Energy and Mines of the Dominican Republic, on his appointment as chair for this session, and expressed gratitude toward Deputy Minister Betty Soto for representing her country. He also acknowledged the vice presidents from the Solomon Islands, Spain, Antigua and Barbuda, and Kenya, while appreciating Slovenia’s previous presidency and leadership during the fifteenth session.
The Director-General pointed out that this assembly convenes during a time when the world is facing overlapping crises, including geopolitical tensions, economic pressures, and widening inequality gaps, along with three planetary crises: climate change, biodiversity loss, and pollution. He stressed that these challenges threaten the sustainability of the current global development model.
La Camera stated that the global energy system is undergoing a significant transformation, moving from a centralized fossil fuel-based model to a more decentralized one relying on renewable energy, highlighting sustainable biomass use and green hydrogen derived from renewable sources. He noted that the market has already decisively leaned towards renewable energy.
According to him, 92% of the new electric capacity installed last year came from renewable sources, and this year, the world is set to reach a new record with an anticipated addition of nearly 700 gigawatts of renewable energy capacity—an amount equivalent to double the total nuclear capacity constructed over the last seventy years.
La Camera urged nations to bolster their renewable energy strategies, not only to meet climate action goals but also because they represent the most resilient and economically viable path towards development, security, decarbonization, and enhanced competitiveness. He explained that the future competitiveness of economies will be determined by their capacity to deliver clean, secure energy at the lowest possible cost.
He reaffirmed that countries acting swiftly will secure sustainable productivity and competitiveness advantages, while those hesitating will fall behind, emphasizing that renewable energy is foundational for industrial competitiveness and economic productivity.
La Camera highlighted the vital role of international cooperation in facilitating the global energy transition through the provision of low-cost financing mechanisms, reducing investment risks, and enhancing innovative financing tools, stressing that access to affordable financing must be a cornerstone of international cooperation.
He mentioned that IRENA’s membership has risen to 171 members, reflecting the growing confidence in the agency’s role and the importance of international collaboration in the field of renewable energy. This increase bolsters the agency’s unique position in guiding the global transition toward a safer, more inclusive, and sustainable future.
According to La Camera, renewable energy sources have become dominant in the global energy landscape, and this transition is unstoppable. Investments related to the energy transformation have reached a new record of approximately $2.4 trillion, with about $800 billion allocated solely to enhancing production capacities, illustrating a rapid acceleration of investments in both renewable energy and other sources.
He called for an annual investment increase to exceed five trillion dollars to set the global trajectory in line with the Paris Agreement’s objectives, asserting that while the overall progress is positive, more concerted efforts are needed in the upcoming phases.
Despite good progress, La Camera indicated that the world remains far from achieving the necessary speed and scale to meet the Paris climate agreement goals. He noted ongoing work under the commitments agreed upon in Dubai during the COP28 conference, where the UAE played a leading role.
La Camera mentioned that the company “Masdar” is investing in over 45 countries worldwide, which underscores the UAE’s pivotal role as a leader in the global energy transition.